Fulgent Genetics (NASDAQ:FLGT) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a sell rating to a hold rating in a research note published on Wednesday morning.

Separately, Piper Sandler reduced their price objective on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday.

Fulgent Genetics Trading Up 7.3 %

NASDAQ FLGT opened at $16.65 on Wednesday. The company has a market cap of $509.27 million, a P/E ratio of -3.02 and a beta of 1.39. The company has a fifty day simple moving average of $17.15 and a 200 day simple moving average of $19.30. Fulgent Genetics has a 12-month low of $14.57 and a 12-month high of $25.11.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CFO Paul Kim purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the completion of the transaction, the chief financial officer now owns 348,282 shares of the company’s stock, valued at $5,558,580.72. The trade was a 40.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 31.76% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Fulgent Genetics by 45.5% in the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after acquiring an additional 667 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Fulgent Genetics in the 3rd quarter worth approximately $46,000. Russell Investments Group Ltd. lifted its stake in Fulgent Genetics by 267.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock valued at $50,000 after purchasing an additional 1,960 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Fulgent Genetics during the fourth quarter valued at $57,000. Finally, State of Wyoming purchased a new stake in Fulgent Genetics in the fourth quarter worth $57,000. 48.06% of the stock is owned by hedge funds and other institutional investors.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company’s clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.